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Humana, a national Medicare leader, partnering with CareSource,
one of nation's most respected Medicaid companies
LOUISVILLE, Ky. & DAYTON, Ohio(BUSINESS WIRE)
Humana Inc. (NYSE: HUM), one of the nation's largest and most
experienced Medicare companies, and CareSource, one of the most
respected Medicaid companies in the U.S., are joining forces in a
strategic alliance designed to enable both companies to more effectively
serve Medicare and Medicaid beneficiaries particularly people who
qualify for both programs, the dual-eligible population. Humana and
CareSource anticipate working together in multiple states.
Humana, with more than 5 million members enrolled in Medicare plans
(both Medicare Advantage medical plans and stand-alone prescription drug
plans), brings more than 25 years of experience working with Medicare
beneficiaries. CareSource, a community-based nonprofit with more than
900,000 Medicaid members (primarily in Ohio), has 23 years of experience
in Medicaid.
Working together, the companies will benefit from each other's
respective strengths and expert knowledge of Medicare and Medicaid
beneficiaries. Through the alliance, Humana and CareSource will deliver
innovative solutions to federal and state governments looking to enhance
care coordination and improve health outcomes for pregnant women,
children, working-age adults, seniors, and individuals with
disabilities, including the dual-eligible population.
As one of the nation's leading Medicare companies, Humana sought a
Medicaid partner with a corresponding level of experience and expertise,
and were excited about what this new alliance with CareSource will mean
for the members well serve,? said Michael B. McCallister, Humana's
Chairman and Chief Executive Officer. Without integration it is a
challenge to manage and coordinate the care of beneficiaries enrolled in
both Medicare and Medicaid. Humana looks forward to applying the
expertise weve gained through the years to help Medicare-Medicaid
enrollees get the care they need, when they need it, enabling them to
remain in their homes and live healthier lives.?
With all the changes in the health care industry, this alliance with
Humana perfectly positions CareSource for strategic diversification and
growth,? said Pamela Morris, CareSource President and Chief Executive
Officer. This alliance brings together the best of CareSource's
mission-based Medicaid expertise with Humana's extensive network and
experience with the senior population to offer full-service solutions to
the state and federal governments.?
In states where Humana and CareSource work together, the relationship
will be exclusive. The companies did not disclose financial terms of the
alliance but acknowledged that there will be some level of risk-sharing.
Humana's Medicare members live in all 50 states, Washington D.C. and
Puerto Rico. The company has seen its Medicare membership grow from
approximately 500,000 in 2005 to more than 5 million today. Humana has
demonstrated its ability to help Medicare beneficiaries achieve better
health outcomes than people enrolled in Original Medicare.
CareSource has more than 900,000 Medicaid members who reside in Ohio and
Michigan, making CareSource Ohio's largest Medicaid company and one of
the larger Medicaid companies in the U.S. True to its mission to improve
health care for the underserved, CareSource is known and well-respected
for the outstanding work its associates do managing the care of Medicaid
enrollees, especially in partnering with communities and social service
organizations to provide the full range of services so many Medicaid
enrollees need.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is a leading health
care company that offers a wide range of insurance products and health
and wellness services that incorporate an integrated approach to
lifelong well-being. By leveraging the strengths of its core businesses,
Humana believes it can better explore opportunities for existing and
emerging adjacencies in health care that can further enhance wellness
opportunities for the millions of people across the nation with whom the
company has relationships.
More information regarding Humana is available to investors via the
Investor Relations page of the company's web site at www.humana.com,
including copies of:
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Annual reports to stockholders
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Securities and Exchange Commission filings
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Most recent investor conference presentations
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Quarterly earnings news releases
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Replays of most recent earnings release conference calls
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Calendar of events (including upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors)
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Corporate Governance information
About CareSource
CareSource is a nonprofit health plan founded on the principles of
quality and service, delivered with compassion and a thorough
understanding of the Medicaid consumer. By staying true to its mission
of making a difference in the lives of underserved people by improving
their health care, CareSource has become one of the largest and fastest
growing Medicaid managed care plans in the nation. Today, CareSource
serves more than 900,000 Medicaid and Medicare Advantage consumers in
Ohio and Michigan.
With a strong focus on preventive care, CareSource utilizes a continuum
of care model to members at all stages of health and illness. In
addition to all required services, CareSource offers extra benefits such
as a 24-hour nurse advice line, transportation to doctor's appointments,
and a variety of care management programs. For more information about
CareSource, visit www.caresource.com.
Photos/MultimediaGallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50210917&lang=en
Humana Corporate Communications
Jim Turner, 502-580-3221
jturner2@humana.com
or
Humana
Investor Relations
Regina Nethery, 502-580-3644
rnethery@humana.com
or
CareSource
Media Relations Specialist
Betsy Woods, 937-531-3158
betsy.woods@caresource.com
Source: Humana Inc.
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